Braddick sets five-year supervisory plan and cyber directorate
Katharine Braddick said on October 22, 2026 that the Prudential Regulation Authority (PRA) will publish its first five-year strategy in 2027. She also announced a cyber resilience directorate and proposals to halve the senior-manager regime's regulatory burden.
Four priorities for supervision
Braddick named resilience, growth, innovation and transparency as the strategy's four priorities.
A new operational and cyber resilience directorate will report directly to her.
The PRA and Financial Conduct Authority (FCA) will consult on a supervisory statement by year-end.
Joint proposals announced that day would reduce senior management functions requiring pre-approval and remove certification requirements, halving the Senior Managers and Certification Regime's regulatory burden while retaining accountability.
The PRA will develop its competitiveness and growth framework to assess investment conditions, capital availability and service pricing.
It consulted earlier in October on indexing regulatory thresholds automatically to nominal growth.
Mortgage models face scrutiny
The PRA will consult in spring 2027 on policy changes to improve access to residential mortgage models, with an independent expert panel testing feasibility.
It will review UK hybrid mortgage model requirements independently and examine their interaction with stressed buffers alongside Bank of England colleagues.
Braddick also pledged clearer approval-performance reporting, fewer unjustified or ad hoc data collections, faster use of analytics and technology, and more accessible rules and supervisory guidance.
Resilience remains the foundation
Braddick presented stronger operational resilience and lower regulatory burdens as parallel priorities, not alternatives.
The PRA will report on its strategy so firms and Parliament can track delivery.
Her stated vision for 2032 combines a resilient, competitive and innovative financial system with transparent supervision.